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They pose a major risk, would have to be a bit nuts to hold into that.
Wouldn't worry about court case too much. It is (mostly) theatrics to show they are clamping down on corruption. It would be extremely foolish to punish FXPO when it has many big, influential foreign investors like HSBC and Blackrock. I've said it before, and I'll say it again, this is the steal of the century, when the court case is done and dusted, there will most certainly be a dividend (likely a resumption of the one cancelled back in February), but perhaps a 2nd dividend some time later. A 3rd would not be out of the question considering the sheer amount of cash generated by FXPO. The Black Sea is clear for exports now. The SP will NOT fall back to record lows ever again (unless the company is absorbed by the Russians – highly improbable) as all the risk is now baked into the price. With the recent passing of the aid bill, and security assurances from NATO, I wouldn't worry about that. If Ukraine wins, this becomes a multibagger overnight, and the SP might even hit record highs (why not?) FXPO will be involved in the reconstruction of Ukraine.
Is there anyway to follow the court cases without just waiting for news articles?
Sounds about right. I'm sure they are hoping the accounts will be unfrozen at the next court case.
So just to make sure I’ve got it right, they have a debt to a supplier that they can’t pay because their accounts are frozen but they have plenty of money in non-Ukraine accounts? I know why the government is being difficult…
But how would they settle the case if their accounts are still frozen?
Possibly. They won't be able to pay a dividend until the legal proceedings in relation to creditor protection are concluded. Next court hearing is scheduled for the 30th April (see note 14 of the 2023 final results), where FXPO stated:
The creditor protection proceedings are a lengthy process, which is not expected to limit the Group to continue to trade and generate resources to meet its other liabilities as they fall due. Furthermore, it is the Group’s intention to settle this debt or seek to extend the payment terms, but noting a previous extension request has been refused by the supplier, to avoid the opening of such creditor protection proceedings.
Playing games by the sounds of it. A dividend will be on the cards (as previously announced) when this mess is cleared up.
What do we think, final dividend payment announced late may and it shoots back up to 80ish?
Moo!
One thing is for sure, following today's RNS we know that this cash cow is back on its feet. Over 5.6m traded today and all of it over 50p. That should flush out those buying in the 40's.
Why does court wants fxpo to fail???
I mean Fxpo will help rebuild Ukraine when the war is over,
don't know when that's going to happen,
buy court orders are frustrating for fxpo shareholders
The significant ramp up in production is highly encouraging here. Even if the dodgy court claims go against FXPO they will have enough cash to cover it. Debt free and printing money essentially. Still highly risky given government risk of seizing assets, or being nicked by Russia. However, the gains here could be astronomical if they ride out the storm. I called the bottom (see posting history) and it appears a technical breakout is now underway.
Great find Alex, And the CEO was is Japan a couple of weeks back so the dots are all lining up.
He doesn't give up:
https://www.bbntimes.com/global-economy/a-trillion-dollars-are-needed-to-rebuild-ukraine-businessman-zhevago-explains-which-countries-can-contribute-to-the-reconstruction
..
Hi Clued. Already covered in my previous posts.
Pacman121, great announcement today, but what are the risks that the Russians missile and drone atrack the likes of FXPO's assets ?
JW Bell end seems even more appropriate in retrospect....
Keep the faith guys as this has a long way to go yet imo. Not really looking like’ It’s all over’! 🙄;)) Atb Rich
That's an amazing read. Even I wasn't expecting 2m tonnes for the quarter. That's a pro rata of something like 150p a share in old money. Keep that up and there will be enough cash to throw at any problem and get the divis going again. If the Ukrainian Gov and oligarchs want FXPO they could have had it last week for the sale price of £270m! :D
FXPO have beaten all the analyst forecasts and expectations - again.
Yes, and a full provision has been made for losing the late May case, and the Company are confident of mounting a strong defence for the others
Picked a few up on the hope it will move back up , my buy on ADFVN is shown as a sell
Let's not forget....
JWBellamy
Posted in: FXPO
Posts: 1,110
Price: 45.60
No Opinion
Final results could send this to 20-30p 12 Apr 2024 09:59
Clearly there’s lot in there not to like.., which is why they have been delayed
JWBellamy
Posted in: FXPO
Posts: 1,110
Price: 49.48
No Opinion
35p 18 Mar 2024 20:01
Looking nailed on
Great but you all forget the 800 Ilb gorilla in the room - legal issues. The corrupt Ukrainian Gov and oligarchs want FXPO.....
That’s pretty special